Canadian Savings Bond fraud victims reimbursed by Bank of Canada

Tuesday, April 11th, 2006
Categorized as: Yesterday's News (old post archive)

According to CBC news, the Bank of Canada has reimbursed $100,000 to 14 Canadian Savings Bond customers who were victims of fraud.

In its article, Thieves use Canadian Savings Bond database to steal $100,000, the CBC says the Bank of Canada outsources administration of its payroll savings plan to an IT outsourcing firm, EDS Canada. Employees of the firm stole customer banking data and used it to cash Canadian Savings Bonds belonging to the victims.

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One Comment

On April 11th, 2006 Tom Adams said:

According to the April 7 government of Canada news release, Bank of Canada Reassures Canada Savings Bond Payroll Savings Program Clients Following Successful Fraud Investigation, the privacy breach involved 16 accounts. Acts of fraud were committed against eight of the accounts.

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June 1, 2010

After six years, over 400 posts, 3,680 real comments, and over 90,000 spam comments (thank you, Akismet, for making managing a blog with comments possible), I am closing public comments on I will contine to update the main articles on this site, but not the comments.

Virtually every question about Savings Bonds has been asked and answered on this site multiple times. Use the search feature (see the box in the gray area near the top of this page) or the detailed menu on the lower part of the home page to find the information you're looking for. If you have a copy of Savings Bond Advisor, you can ask me a question here.

Tom Adams

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